EQT Awarded Gold Standard Rating by United Nations' Oil & Gas Methane Partnership

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EQT Corporation (NYSE: EQT) has received a "Gold Standard" rating from the Oil & Gas Methane Partnership 2.0 (OGMP 2.0) for its efforts in methane emissions reduction. This recognition highlights EQT's ambitious targets and commitment to accurate emission measurement. The OGMP 2.0 initiative, involving nearly 80 companies, aims to significantly lower methane emissions. EQT ranks among only 14 upstream firms globally to achieve this rating, with the second lowest methane intensity target set for 2025. EQT emphasizes the need for U.S. infrastructure to support global natural gas demand.

Positive

• Achieved 'Gold Standard' rating from OGMP 2.0, recognizing commitment to methane emissions reduction.
• Among 14 companies globally qualifying for the Gold Standard rating for 2022.
• Second lowest 2025 methane intensity target among Gold Standard companies.

Negative

• None.

Recognized for Leading Methane Reductions Program and Setting Ambitious Emissions Reduction Targets  

PITTSBURGH, Nov. 1, 2022 /PRNewswire/ -- EQT Corporation (NYSE: EQT) today announced that the Oil & Gas Methane Partnership 2.0 (OGMP 2.0) awarded the Company a "Gold Standard" rating, the highest reporting level under the initiative, in recognition of EQT's ambitious methane emissions reduction targets and advanced commitment to accurately measuring, reporting and reducing its company-specific and site level methane emissions. 

OGMP 2.0 is a multi-stakeholder initiative launched by the United Nations Environment Programme and the Climate and Clean Air Coalition in partnership with the European Commission, the U.K. and Norwegian governments, the Environmental Defense Fund and nearly 80 leading oil and gas companies. The initiative brings together these parties with the goal of enhancing robust methane emissions monitoring and credible reporting to achieve deep reductions in methane emissions over the next decade.

OGMP 2.0 member companies report on methane emissions along five levels of reporting, increasing in granularity by quantification methodology, level and sources of geography and uncertainty in quantification. To attain the OGMP Gold Standard rating, "bottom-up" source-level (Level 4) reporting must be reconciled with "top-down" site level emissions measurements (Level 5).

EQT is among 14 upstream companies globally qualifying as Gold Standard for 2022.

"Our achieving the Gold Standard rating under the OGMP 2.0 further validates EQT's commitment to operating at the highest standards when it comes to methane monitoring and reduction. And among this elite group of world-leading companies, EQT has the second lowest 2025 target methane intensity goal," said Toby Z. Rice, President and Chief Executive Officer of EQT Corporation. "Taken together, these results further strengthen our argument that, in a world where we are facing an under supply of natural gas and an increasing reliance on coal, it is incumbent on the United States to develop the infrastructure necessary to meet global demand for clean, affordable and reliable natural gas."   

EQT joined OGMP 2.0 in June 2021, committing to increasing its methane detection, monitoring and reporting.

EQT Contact:
Bridget McNie
Director of Communications
412.720.4500
Bridget.mcnie@eqt.com 

About EQT
EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology, and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable, and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do. To learn more, visit eqt.com.

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SOURCE EQT Corporation

FAQ

What recognition did EQT receive for methane emissions reduction?

EQT received a 'Gold Standard' rating from the Oil & Gas Methane Partnership 2.0 for its methane emissions reduction efforts.

How many companies achieved the Gold Standard rating along with EQT?

EQT is among 14 upstream companies globally that qualified for the Gold Standard in 2022.

What does the Gold Standard rating signify for EQT?

The Gold Standard rating signifies EQT's advanced commitment to measuring and reducing methane emissions.

When did EQT join the OGMP 2.0 initiative?

EQT joined the OGMP 2.0 initiative in June 2021.

What is EQT's target for methane intensity by 2025?

EQT has set the second lowest methane intensity target for 2025 among the companies recognized by OGMP 2.0.